FS Bancorp, Inc. (NASDAQ:FSBW) Short Interest Down 19.3% in August

Key Points

• FS Bancorp experienced a significant decrease in short interest, dropping by 19.3% in August, with 68,400 shares shorted as of August 31st.
• CEO Joseph C. Adams sold 14,646 shares at approximately $41.83 each, resulting in a total of about $612,642 and a 13.03% reduction in his ownership stake.
• The company's latest quarterly earnings exceeded expectations, reporting $0.99 earnings per share and a revenue of $37.28 million, above the analysts' forecast.

FS Bancorp, Inc. (NASDAQ:FSBW - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 68,400 shares, a drop of 19.3% from the August 15th total of 84,800 shares. Based on an average daily trading volume, of 16,400 shares, the days-to-cover ratio is currently 4.2 days. Currently, 1.0% of the shares of the stock are short sold. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,400 shares, the days-to-cover ratio is currently 4.2 days.

Wall Street Analyst Weigh In

Separately, DA Davidson raised their target price on FS Bancorp from $41.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, FS Bancorp has a consensus rating of "Hold" and a consensus price target of $44.00.

FS Bancorp Trading Up 0.9%

Shares of NASDAQ FSBW traded up $0.36 during mid-day trading on Monday, hitting $41.58. 15,215 shares of the company traded hands, compared to its average volume of 17,762. The business has a 50 day moving average of $40.99 and a two-hundred day moving average of $39.56. The stock has a market capitalization of $316.01 million, a price-to-earnings ratio of 9.79 and a beta of 0.73. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 0.96. FS Bancorp has a 1 year low of $34.61 and a 1 year high of $49.15.

FS Bancorp (NASDAQ:FSBW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $37.28 million during the quarter, compared to the consensus estimate of $36.55 million. FS Bancorp had a return on equity of 11.32% and a net margin of 15.88%. On average, sell-side analysts anticipate that FS Bancorp will post 4.26 earnings per share for the current fiscal year.

FS Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 7th. FS Bancorp's dividend payout ratio is currently 26.60%.

Insiders Place Their Bets

In related news, CEO Joseph C. Adams sold 14,646 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $41.83, for a total transaction of $612,642.18. Following the completion of the transaction, the chief executive officer owned 97,775 shares of the company's stock, valued at $4,089,928.25. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 37,500 shares of company stock worth $1,529,937 over the last ninety days. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On FS Bancorp

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its stake in FS Bancorp by 489.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,980 shares of the bank's stock worth $78,000 after acquiring an additional 1,644 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of FS Bancorp during the 2nd quarter worth about $413,000. Marshall Wace LLP purchased a new stake in shares of FS Bancorp during the 2nd quarter worth about $262,000. Panagora Asset Management Inc. raised its stake in shares of FS Bancorp by 14.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 35,529 shares of the bank's stock worth $1,399,000 after purchasing an additional 4,432 shares in the last quarter. Finally, De Lisle Partners LLP raised its stake in shares of FS Bancorp by 1.5% during the 2nd quarter. De Lisle Partners LLP now owns 385,451 shares of the bank's stock worth $15,193,000 after purchasing an additional 5,530 shares in the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.

FS Bancorp Company Profile

FS Bancorp, Inc operates as a bank holding company for 1st Security Bank of Washington that provides banking and financial services to local families, local and regional businesses, and industry niches. The company operates in two segments, Commercial and Consumer Banking; and Home Lending. It offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, and certificates of deposit.